WASHINGTON (dpa-AFX) - Level 3 Communications, Inc. (LVLT), a provider of a range of integrated communications services, reported Thursday that its first- quarter net income was $124 million or $0.34 per share, compared to $122 million or $0.35 per share a year ago.
On average, 18 analysts polled by Thomson Reuters expected earnings of $0.43 per share. Analysts' estimates typically exclude special items.
Total revenue was $2.051 billion for the first quarter 2016, compared to $2.030 billion on a pro forma basis, for the first quarter 2015, excluding the results from the company's Venezuelan subsidiary's operations that was deconsolidated as of September 30, 2015. Analysts expected revenues of $2.08 billion.
Citing the continued focus on profitable revenue growth and strong Adjusted EBITDA results in the first quarter, the company increased its outlook for full year 2016 Adjusted EBITDA growth. The company now expect full year 2016 Adjusted EBITDA growth of 10 to 12 percent, compared to previous outlook of 9 to 12 percent. In addition, the firm continues to expect to generate Free Cash Flow of $1.0 to $1.1 billion.
Copyright RTT News/dpa-AFX